Tivan wins A$7.4m grant for Speewah Fluorite Project from Australian government

Tivan Limited has secured a pivotal Australian Government grant worth A$7.4 million for its Speewah Fluorite Project. This critical development falls under the International Partnerships in Critical Minerals (IPCM) Program, a government initiative to bolster the critical minerals sector by supporting projects that build resilient international supply chains. The Speewah Fluorite Project, situated in Western Australia’s Kimberley region, aims to produce acid-grade fluorspar, a material essential to semiconductor manufacturing and electric vehicle batteries.

The grant will fund vital Feasibility and Definitive Feasibility Studies, paving the way for a final investment decision by 2026. Tivan has described the grant as transformative, significantly reducing the financial hurdles in advancing the project’s timeline.

Strategic international partnership with Sumitomo

A key factor in the project’s success is Tivan’s strategic international partnership with Sumitomo Corporation, a Japanese trading giant. In June, both companies formalised an agreement to negotiate a joint venture for the development and operation of the Speewah Fluorite Project. This alliance underscores the growing synergy between Australia and Japan in the critical minerals sector, which is crucial for clean energy technologies and advanced manufacturing.

Sumitomo’s support was instrumental in securing the Australian Government grant, further cementing the collaboration’s potential. Tivan’s Executive Chairman has engaged with Japanese stakeholders extensively over the past year, reflecting the project’s strategic importance.

Addressing critical minerals needs

The inclusion of fluorine in Australia’s Critical Minerals List in 2023 highlights its growing importance in global supply chains. As the only domestic project targeting acid-grade fluorspar, the Speewah Fluorite Project is positioned to fill a critical gap in the critical minerals sector. Acid-grade fluorspar is indispensable in industries like renewable energy, high-tech defence, and electric vehicle production.

Tivan’s board praised the Federal Government’s Critical Minerals Strategy 2023-30, which aims to enhance Australia’s role as a leader in the critical minerals sector. By advancing the Speewah Fluorite Project, Tivan is contributing to the nation’s goal of diversifying supply chains and driving the clean energy transition.

Regional and Indigenous business growth

The project is also set to bring substantial economic and social benefits to the East Kimberley region. Tivan’s plans for Indigenous business growth and local employment align with the government’s vision for inclusive development. Once operational, the Speewah Fluorite Project will not only provide a new sovereign capability in acid-grade fluorspar production but also foster regional economic diversification.

In a statement, Minister Madeleine King highlighted the importance of investing in projects like the Speewah Fluorite Project. She emphasised their role in creating skilled jobs and securing Australia’s energy future while addressing global supply chain vulnerabilities in the critical minerals sector.

Future prospects

Tivan expects to reach a final investment decision by early 2026, with production commencing by 2027. The company’s strategic international partnership with Sumitomo Corporation is a cornerstone of this ambitious timeline, ensuring robust operational and financial support. The Speewah Fluorite Project exemplifies Australia’s growing influence in the critical minerals sector, cementing its position as a global leader in clean energy innovation.

By leveraging this Australian Government grant, Tivan is not only accelerating its project timeline but also contributing to Australia’s broader goals of regional economic empowerment and supply chain resilience.